AAPL - Block Isn't Dead Money As A Growth Inflection Could Be Close
2024-06-22 11:30:00 ET
Summary
- Block Stock has dropped into a deep bear market.
- Block has demonstrated its ability to improve its profitability as it scales.
- SQ's PEG ratio has dropped to highly attractive levels, suggesting the market seems too pessimistic.
- I argue why the market's misunderstanding has created another attractive opportunity for investors to buy more. Read on.
Block Stock Plunged Into A Bear Market
Block, Inc. ( SQ ) investors aren't new to intense market volatility. As a reminder, SQ is still down almost 80% from its 2021 highs. Therefore, I'm not surprised by the bear market decline since SQ topped in March 2024, declining nearly 30% since then. SQ has also underperformed since my previous article in April. I reiterated my bullish SQ rating and expected buying momentum to remain robust. While I recognized Block's more intense competitive challenges, I highlighted that the fintech company has also demonstrated its business model. ...
Block Isn't Dead Money As A Growth Inflection Could Be Close